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watched the first presidential debate between president obama and mitt romney. ratings were higher than the first debate in the 2008 election when fifty-two million viewers tuned in. fox news won the night among all tv networks tracking ten million people. the national hockey league is canceling two week of its regular season. this came as the nhl players association failed to reach a collective bargaining agreement. red box is selling tickets for a live events at its kiosk, a $1 service charge will be added to each purchase. facebook topping 1 billion users per month:mark zuckerberg made the announcement for his facebook status, and that is today's speed read. what really caused the financial crisis? john allison, former ceo of bbn 3 with an explosive charge. don't want to miss john allison who is coming straight up. we are heading back to cleveland where this claim in talking to one company took a real gamble. nicole: gamble. it is the casino and the blink of a business i. it is one of cleveland's biggest employers. the general manager and senior vp of horse shoe casinos. we are comin
business. >> my priority is jobs. so what i do is i bring down the tax rates. >> governor romney's proposal calls for a $5 trillion tax cut. the average middle class family with children would pay about $2,000 more. it is not possible to come up with enough deductions and loopholes that only affect individuals to avoid either raising the deficit or burdening the middle class. it's math. >> reporter: on medicare and social security,one agreement. >> neither the president nor are are i are proposing any changes. >> aarp has said that your plan would weaken medicare, substantially. >> romney fired back a a major debate moment that the president weakened the economy by his focus on health care. >> i don't know how the president could have come into office facing rising unploimt and spending energy and passion fighting for obama care. >> we did work on this alongside working on jobs. this is part of making sure that middle class families are secure in this country. >> a substantial debate. no zingers. i'm steve handles, nbc news, denver. >> as mentioned, we heard a t lo of promises from both can
to cost jobs, my priority is jobs so i bring down the rates. >> aggressive romney talks about what he will cut. >> i will eliminate all programs by this test. is the program so critical it is worth -- >> governor mitt romney is going to have a busy first day because he is going to repeal obama care among democrats as you can sitting down with them. >> and the next presidential debate is on october 16th in new york. >> time now 4:33, people gathered at debate watch parties and over flow crowds showed up in san jose and among those, political science professors. i think mitt romney did a great job, obama looked a little off his game. i think mitt romney did a better job tonight. >> i think the winner is the president because he is the president and his opponent has to be able to say why he should be better than the incumbent and i don't think that was necessarily done tonight. >> and a debate feels 6 5% feels mitt romney won compared to 2 5% for the president. and 48% for mitt romney, compared to 2 5% for the president. >>> and fact statements you will find that on our website www.ktvu.
the tax rates. >> governor romney's proposal that he's been promoting for 18 months calls for a $5 trillion tax cut. >> reporter: which the president claimed would help the rich at others' expense. >> the average middle class family with young children would pay $2,000 more. >> everything he said about my tax plan is not accurate. >> it is not possible to come up with enough tax cuts to avoid either raising the deficit or burdening the middle class. it's math. it's arithmetic. >> reporter: on medicare and social security one agreement. >> neither the president nor i are proposing any changes for any current retirees or near retirees. >> reporter: in ten years romney wants a private medicare option. >> aarp has said that your plan would weaken medicare substantially. >> reporter: romney fired back in a major debate moment that the president weakened the economy by his focus on health care. >> i just don't know how the president could come into office facing 23 million people out of work, rising unemployment, and spend his energy and passion for two years fighting for obama care inst
the cut ways of both of the candidates. mitt romney's likeability rating has been different. >> i think he did well. he has a very nice way of looking at somebody while they are speaking. there was no smirking. i thought it was interesting that obama looked at the camera while romney was looking at obama. but it wasn't in a challenging or intimidating way. he borrowed from ronald reagan, talked about people he met during the campaign. so in terms of his likeability factor, it can only go up for mitt romney and the president just appeared the same as he always does. >> mitt romney has been criticized for being different, depending on what stage he is on. i saw people saying they like this mitt romney who showed up. do you think he's going to get criticized for showing himself as a different person tonight? >> no. i just think that it's probably who he really is. what i thought was interesting that he didn't appeal to was what call wal-mart moms. those are women who don't have college educations who are on lower income. those are the undecided constituency and also, what about going and
governor romney's proposals to reduce the corporate rate, which by the way, president obama wants to reduce the corporate rate too. and adding to it rhetoric from the campaign about reducing the middle income tax burden. the reality is this $5 trillion number is not a specific plan by romney. it's cobbling a number of things together and including things obama and romney both agree on. >> but it is a number, a plan he has talked about. unfortunately, we are out of time, congressman. thank you so much. >> president obama claims $3 trillion of that number himself, so does president obama have a $3 trillion plan to cut taxes? he doesn't want to go around talking about it a whole lot. >> former congressman arch davis, thank you so much. >>> federal authorities have launched a criminal probe into a company hired by republicans. after looking at dozens of suspicious forms there's enough evidence indicating a crime may have been committed. the republican national committee fired strategic allied consulting last week after several counties reported questionable forms across southern florida. ♪ th
. it raised revenue while cutting the rates more than mitt romney wants to cut the rates. now how is that a $5 trillion hole? >> governor strickland? >> hey, chris, can i talk just for a moment. >> as long as it is just for a moment. >> he has a $5 trillion tax cut plan. he says it's going to be revenue neutral because he's going to offset it by getting rid of loopholes. the only loophole he had enough courage to mention last night was big bird and public broadcasting. you know, the tax deductions where the real money is, chris, is the mortgage tax deduction, charitable tax deductions, deductions that enabled parents to help their kids go to college, those are middle class deductions. and that's exactly why mitt romney is unwilling to say what those deductions are going to be, because these are deductions that strike at the heart of the middle class. and he wants to give tax cuts to rich people and put the tax burden on the backs of working folks. that's mitt romney's plan. >> that was what president obama hit him on and what many of the fact checkers are hitting him on this morning. >> that's
the reallies, but the -- realities, but the point is mitt romney wants to lower the tax rate, simplify the tax code, but not in a way that grows the debt. those are very specific, but powerful governing principles. now he's going to engage republicans and democrats in how to accomplish that. that's how you get things done in washington, d.c.. not like this president that tried to ram it down our throats, basically, without working with republicans, force things like the stimulus and obamacare on to the economy without any input of the legislative branch on many occasions. that's been counterproductive. neil: i know you have to go, but there's a poll that the latest read of latinos is 72% favor the president. is that needle going to change? >> let me tell you, that's a poll of latinos across america. there's a massive number of la latino voters in california and new york. those states are not in contention. what about the latinos in florida, virginia, north carolina, colorado -- neil: president's up in florida. >> here's the appointment, the gap is closer. neil: really? >> in fact, florida, i t
question. of them on the bottom of the screen. reaction whenve goingent obama referenced the tax rate under president clinton. romney received kudos after saying america will never budget if the cup -- not stopuntry does recklessly. boater said president obama was bidding we talked about his grandmother and social security tonight. there were equal responses on this evening. it is important for us to stress that our smartphone alling is certainly not scientific poll. you who all of participated. nightline will have a complete debate wrap up at 1135. -- 11:35. >> tonight, police have issued after a teenager vanishes. seen monday morning. car inves found his city at a park. is live at the agh school where he is student. on the the latest search. last place anyone spoke to brian. he is a senior here. his dad said he left his cell morning,home on monday is out of thethat ordinary. something that is a concern, he cash on him and his not been used since sunday. >> somebody out there know something. >> an urgent plea for some in rick -- with a family plea a desperate family member. >> he needs to
gets that $5 trillion number he used again today. governor romney's plan to cut tax rates by 20% would add up to about $5 trillion over ten years, assuming no other changes. but governor romney is planning to make other changes by eliminating tax deductions worth about the same amount. but the president is accurate when he says governor romney is making many promises in his tax plan. romney says upper-income people will not get a net tax cut; middle-income people will not see their taxes go up; incentives for savings and investment won't be touched; the estate tax and alternative minimum tax will be eliminated-- all this while cutting tax rates and not changing the amount of money the federal government brings in. an analysis by the tax policy center shows governor romney will have to make some big tradeoffs. >> so, governor romney has made five promises. he can't keep them all. he is going to have to, at some point, abandon one of those promises. he cannot cut tax rates, cut taxes on the middle class, cut taxes on capital gains, and balance the budget all at once. >> reporter: romney
romney is proposing is lowering tax rates, getting people back to work to generate tax revenues. he never said that taxes on the rich would make up for the deficit. president obama kept saying that. obviously he did not get how that works. tracy: listen to the sound bite from last night, mitt romney talking about the off shoring of businesses and tax businesses. >> to get a deduction for taking a plant overseas? i have been in business 25 years. i have no idea what you are talking about. i maybe need to get a new accountant, but the idea you get a break for sending jobs overseas is simply not the case. tracy: christian, was governor romney right on that point? >> no, he was actually wrong. earnings that do not subject to income tax money that is held offshore in effect incentivizing companies to have offshore jobs and keep the money outside the united states. i don't know where the governor was confused, but actually that is something that is a part of the tax code, he is wrong about that. tracy: there is no off shoring tax. you shut down a plant, fair enough, but no break for moving jobs
businesses. >> my priority is jobs. so what i do is i bring down the tax rates. >> governor romney's proposal that he has been promoting for 18 months calls for a $5 trillion tax cut. >> reporter: which the president claimed would help the rich at others 'expense. >> the average mittedle class family would pay about $2,000 more. >> everything he just said about my tax plan is inaccurate. >> it's not possible to coming up with enough deductions and loopholes that only affect high-income individuals to avoid either raising the deficit or burdening the middle class. it's math. it's arithmetic. >> reporter: on medicare and social security, one agreement -- >> neither the president nor i are proposing any changes for any current retirees or near retirees. >> reporter: in ten years, romney wants a private medicare option. >> aarp has said that your plan would weaken medicare substantially. >> reporter: romney fired back in a major debate moment that the president weakened the economy by his focus on health care. >> i just don't know how the president could have come into office facing 23 million pe
's a dispute over it, where it came from, what is the president referring to? >> mitt romney has proposed to cut taxes across the board by 20%. cut tax rates, i should be precise about that, because it matters. you lose $5 trillion in revenue over ten years if you cut tax rates by 20% across the board. that's the calculation of a non-partisan group widely agreed to be accurate, the tax policy center. now, here's where things get complicated because what the --. >> brown: you're going tligt there right away, aren't you? (laughter) >> it's like we're up there on the stage last night. what the governor says he will do is fill that $5 trillion hole by getting rid of a bunch of deductions and loopholes, so he'll offset the revenue loss with closing of deductions and loopholes and the president made two points last night-- and i thought they were good points. first he said there's actually not enough deductions and loopholes, particularly for high-income people to offset the revenue loss. so that's when they said the math doesn't work. there's not enough dolars in those deduction loophole closu
policy center t looked to see whether romney can cut individual tax rates for everyone without increasing the deficit. he has promised his plan will be revenue neutral. in order for his math to add up, the campaign has said they're going to close tax loopholes, particularly those affecting the wealthy. according to the centers analysis back in august, they said by doing that, lower income families with children would pay an average $2,000 more. but mitt romney is right to point out that others have poked holes in the math, including bloombe bloomberg, that middle class would be hit with an increase of only $1,000 not $2,000. the tax policy center was told about this. according to bloomberg, the authors changed some of their statements. the conservative tax foundation claims that the center didn't account for economic growth and romney's plan would pay for itself, that there would be no middle class income tax increase. last month came on the show and did the math and said if you close or cap itemized deductions and assume that the economy grows at 3%. historically, that would be reasonabl
the corporate tax rate to 20% but there's been zero details of how he can do that. mr. romney is making the same point. he is serious about tax reform, going to go work with congress when he gets a chance. to put out those details now would be to harm the overall effort. >> that may be true but ethan is fair to point out that the studies we reference are put out by conservative groups. >> that's absolutely true. they're using different sxes specifications from what mitt romney has said. one study says if he raises taxes on people $100,000 than -- $1,000 than $2,000, it makes the math work. the problem is that romney has said i don't want to do any of that. so all of the studies that doug says actually affirms romney, they're all making assumptions that contradict what romney is saying. the reason they have to make she is assumptions is that romney is not showing anyone his tax plan. >> if he can win this with the middle class -- i'm speaking from one small focus group. they cared a lot about it. if this could be something that helps him move this election in swing states and he has to get more s
not to raise overall taxes. romney's committed to cutting all tax rates at least 20%. ryan and the house republicans want to go to a top rate of 25% corporate and individual. romney's made it clear. any changes are in the context of keeping overall taxes from going up and making sure the middle class doesn't get hit request higher taxes. it's not a tax increase, he's made that clear. >> mr. secretary, a lot of discussion about whether or not the wealthy or the middle class families in america benefit more from any limit of deductions. >> well, a limit of deductions actually would hurt the wealthy to the extent that we're talking about a deduction that the wealthy take in very, very large amounts. a limit on those deductions makes some sense in terms of a progressive tax system. >> what do you think the plan for the president will be tonight? terms of tax reform, mr. reich? >> the president has said that he wants the so-called buffett rule that is a minimum tax particularly in regard to higher incomes. he's talked about ending the bush tax cuts. and he also -- i mean, basically the presid
and i both agree our corporate tax rate is too high. governor romney and i, we both agree that we've got to boost american energy production. one of the things i suspect governor romney and i probably agree on is getting businesses to work with community colleges so they are setting up their training programs. >> do you agree, governor? >> let me finish my point. >> what's the strategy there? why try to raise romney up to his level? >> yeah, you know, it was one of those moments where i was watching this on twitter where people who supported the president were literally having their heads exploding. this is where you see the obama camp sometimes reading too much into what makes him more popular and likable. i think they see, well, he's a guy willing to compromise and be conciliatory. they didn't want to sacrifice likability in order to go against mitt romney, but unfortunately that's not how you debate. i think they need to go back and stop trying to shore up what's already there, that the president is likable. the president is president so he doesn't have to reinforce presidential sort
rate romney's performance as stellar and obama's as lacking. two strikes for obama after his luke warm talk. peter from ireland says george bush was the problem, not obama. let us know what you think. join in the conversation right here on "worldwide exchange." we'll get to some of your comments a little bit later in the show. time for a quick break. still to come, we'll bring in a democratic and republican strategist to grade the performance of president obama and mitt romney. >>> welcome to "worldwide exchange." these are your headlines from around the world. an aggressive mitt romney comes out swinging in his first debate with president obama. the two men sparring over how to fix the u.s. economy. waiting on spain, the ecb expected to hold steady on rates as central bankers meet today. country's president tells cnbc that europe's policymakers must remain focused. and madrid sees solid demand and yields coming down as the finance minister heads to london to raise funds for the country's bad banks. if you're just tuning in, thanks very much for coming along. ross will be back tomorrow
in a slower rate than any time in 50 years but that is not true. interest to and romney said mitdel income americans have seen income drop by $4300 a year, that is way too high showing it's about half of that. is one man telling more facts or better facts than another? we'll take a look what he says is the big difference. it's the money. >> that is interesting. >> according to a poll, april% of the registered voters said the g.o.p. nominee won. >> and the next debate takes place a week from today in danville, kentucky. abc 7 will air that debate live. >> the president will be in san francisco next monday for a fund-raiser at bill graham auditorium. this will be the president's sixth bay area fund raising visit this year. >> there is a crack down from department of justice, nearly 100 people arrested are part of a medicare fraud sting. >> looking at the second largest fraud bust in history. these miami arrests just some of the 91 doctors and nurses that are taken down, nationwide. >> such activity not only for precious resources but drive up costs and jep zizs -- dep dyeses the program incl
about mitt romney's strength. first of all, how many of you rated hum a stronger leader. and that was one of the areas where mitt romney really stood out. let's ask karen ren sick a question. an unemployed voter, trying to make up your mind. when we heard that high moment from mitt romney, it stood out to you, why did it? >> i was surprised president obama did not stand out more and stronger in this. when mitt romney said the things he said, especially leaning back and showing the constitution and the bill of rights and it just really struck in me, yeah, this man could really help me in the job market and our economy. he stood out as a stronger candidate to me. >> did he stand out as someone that connects with you personally in a way he hasn't so far? >> yes, from his ads, i thought he was much more aloof than he appeared tonight. >> let's get to some of the lows, wolf. there were a couple of moments that our focus group reacted negatively to. >> the low points in the debate for president obama and governor romney, let's begin with the president first. 9:18 p.m. eastern,
of this company. michael, romney says if you lower the tax rates what happens is, businesses have more money. businesses have more money they can hire more people and, guess what, everyone starts paying taxes and that is how you close the deficit. true? >>guest: it is true that is what he is saying. it is true that is the way a model would have it play out. the question and what assumptions go in that assertion by lowering rate and obviously on some level, lowering immediate revenue, probably, because you do caught in have all the details on closing the deductions, how, exactly, that accelerates the economy to a point without making it up on the back end. >>trace: the president, again and again, michael, he said the governor plans to raise taxes or lower taxes by $5 trillion and a couple trillion on top of that and this is how governor romney responded, and i want your reaction. >> you and your running mate say that and i know it is popular to say with a lost people but it is not the case. i have five boys. i'm used to people saying something that is not always true but keep on repeating it
will see over and over again on television, but mitt romney did what he needed to do. mitt romney ran to the middle saying lowering the tax rates for wealthy americans would not lower the amount of taxes they pay. >> my view is we should provide tax relief to those in the middle class. but i am not going to reduce the share of taxes paid by high income people. >> romney said he would close tax loopholes and limit the de tucks -- deductions to the risk. >> it is knot possible to come up with enough deductions and loopholes that only affect high income individuals to either avoid raising the deficit or burdennenning the middle class. it is math. it is arithmetic. >> on health care -- >> first of all, i like the way we did it in massachusetts. >> romney said he would repeal obama care, but not all of the parts people like. >> preexisting conditions are covered under my plan. number two, young people are able to stay on their family plan. >> what your plan does is to duplicate what is already the law. >> the president's responses did not pin romney to what he said during the primaries and
, but mitt romney did what he needed to do. mitt romney ran to the middle saying lowering the tax rates for wealthy americans would not lower the amount of taxes they pay. >> my view is we should provide tax relief to those in the middle class. but i am not going to reduce the share of taxes paid by high income people. >> romney said he would close tax loopholes and limit the de tucks -- deductions to the risk. >> it is knot possible to come up with enough deductions and loopholes that only affect high income individuals to either avoid raising the deficit or burdennenning the middle class. it is math. it is arithmetic. >> on health care -- >> first of all, i like the way we did it in massachusetts. >> romney said he would repeal obama care, but not all of the parts people like. >> preexisting conditions are covereunder my plan. numberwo, young people are able to stayn their family plan. >> what your plan does is to duplicate what is already the law. >> the president's responses did not pin romney to what he said during the primaries and the republican nominee was able to reframe his po
reduction in tax rates, which obviously costs money. romney says he makes up for that by closing hoop holes raising -- loopholes raising revenues. but he has not identified what those loopholes are. and another issue is expanding the economy by giving tax cuts will bring other people into the taxpayer pool also raising revenue. but the math has never been full hi sorted out -- fully sorted out, so we never know where the savings are. >> and we find out how tough that is. now, let's talk about it for a second. accusing the president of cutting $716 billion for medicare. he is running a lot of ads to that effect. it came up last night. let's listen to what romney said. >> at the same time gasoline prices have doubled under the president, electric rates are up, food prices are up. health care costs have gone up by $2,500 a family. middle income families are being crushed. >> okay, so now had it gone up that much because of obama care and the cuts in medicare? >> the health care costs have gone up that much in 2008, a family average plan, employer sponsored plan would have been$1,250. however t
people. when it comes to our tax code, governor romney and i both agree that our corporate tax rate is too high. i want to lower it, particularly for manufacturing. i also want to close those loopholes that are giving incentives for companies that are shipping jobs overseas. i want to provide tax breaks for companies that are investing here in the united states. on energy, governor romney and i both agreed that we have to boost american energy production, an oil and natural gas production are hired and have been in years. but i also believe that we have to look at the energy source of the future like wind, solar, and biofuel, and make those investments. all of this is possible. in order for us to do it, we do have to close our deficits. how do we do with our tax code, and how do we make sure that we are reducing spending in a responsible way? this is where there is a difference, because governor romney central economic plan calls for a tax cut on top of the bush tax cuts, and $2 trillion in additional military ssending. how we pay for that, reduce the deficit, and make the investmen
is what we do know, romney reduces taxes by cutting marginal rates by 20%. repealing the amt. the tax policy center says all that means is tax cuts of $480 billion in the year 2015. the obama campaign will divide that by ten and there is a $5 trillion tax cut figure over the next decade the president repeatedly cited during the debate. that is misleading. romney says he raises the full cost. he raises money elsewhere. personal exemptions and healthcare provision -- congress could presume economic growth from lower tax rates need more tax revenues to the treasury. economic growth means romney's plan works. >> it grows the economy so much. about 7.4% in the long run. over ten years. this revenue problem becomes much smaller. >> others like the tax policy center and the congressional budget office do not use overall economic growth as official ways to pay for lower tax rates. mcbride says it is somewhat ridiculous not to do so. there will be some growth from doing it. back to you. melissa: rich, that is so interesting that you got him to quantify the kind of growth we could see with that
's not my plan. my plan is not to put in place any tax cut that will add to the deficit. >> reporter: romney has proposed making the bush tax cuts permanent for all income levels and then cutting all rates an additional 20%. he would repeal the alternative minimum tax and permanently repeal the estate tax. the nonpartisan tax policy center concluded that mitt romney's tax plan would cost $4.8 trillion over ten years. romney said again tonight that his plan would be paid for, but to pay for those cuts, he would have to close loopholes in the tax code and get rid of some tax deductions, he said, and credits, but he's repeatedly refused to say which deductions he would get rid of saying that he would work with congress to make those decisions. also tonight president obama said his plan would cut the deficit by $4 trillion. >> we all know that we've got to do more, and so i put forward a specific $4 trillion deficit reduction plan. it's on a website. you can look at all the numbers, what cuts we make and what revenue we raise. >> reporter: that estimate comes from the left-leaning center on budg
plan. i rate that mostly fiction. as you heard from romney during the debate, he is proposing no net tax increase whatsoever. diane, what he has proposed is a 20% tax cut in rates across the board, but he's said that nobody gets extra money, because he's going to pay for that by closing loopholes, of course, he hasn't told us which loopholes he's going to close. next up, the issue of health care. the president's health care plan covers guaranteed coverage for people who have pre-existing conditions. this is what mitt romney said about his health care plan. >> number one, pre-existing conditions are covered under my plan. >> okay, i have to rate that mostly fiction. here's what we know about governor romney's health care plan. it would guarantee coverage, even if you had pre-existing conditions, for anybody who currently has health care or had it within three months. that's basically current law, diane. but under romney's plan, there is nothing to help out those that now don't have health care and haven't had it for three months. if they have pre-existing conditions, they're out of lu
people. when it comes to our tax code, governor romney and i both agree that the corporate tax rate is too high. so, i want to lower it, particularly for manufacturing, taking it down to 25%. but i also want to close those loopholes that are giving incentives for companies that are shipping jobs overseas, i want to provide tax breaks for companies investing in the united states. on energy, governor romney and i agree we've got to boost american energy production. and oil and natural gas production are higher than they've been in years. but i also believe that we've got to look at the energy source of the future, like wind and solar and biofuels and make those investments. so, all of this is possible, now, in order for us to do it, we do have the close our deficit and i'm sure we'll be discussing tonight how do we deal with our tax code and how do we make sure that we are reducing spending in a responsible way, but also how do we have enough revenue to make those investments? and that's where there's a difference, because governor romney's plan calls for a $5 trillion tax cut on top
wants you to think 47%. they want you to think of romney's effective tax rate at 14%. but the president didn't go there tonight. he missed those opportunities and left an opening for the romney campaign. >> pelley: >> pelley: juliana, thank you very much. joining us right now is major garrett from "national journal." one of the subjects covered tonight was health care, the affordable care act which some people call obamacare a term the president endorsed tonight. he said he liked that term. i wonder what you thought of the cases that were made by governor romney and the president on health care. >> scott great to be with you. i thought the health care debate was a prism into which to look at the entire economic debate which this debate was focused on largely. but health care talked about jobs, mitt romney said the president's health care law will cost jobs. the president said no it will provide jobs and security. so you saw strong contrast between the perceptions of what the president's health care law means. governor romney went to great lengths to say he would preserve existing medica
debate we did see a strong showing from mitt romney on topics from the economy to health care. mark matthews has a look at first match-up. [ applause ] >> reporter: mitt romney ran to the middle telling the country lowering the tax rates for wealth any americans would not lower the amount of taxes they pay. >> my view is we ought to provide tax relief to people in the middle class. i'm not going to reduce share of taxes paid by high income people. >> reporter: romney said he would close tax loopholes and limit reductions to the rich. >> the president: it is not possible to come up with enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit or burdenning the middle class, it is math, -- arithmetic. >> i like the way we did it in massachusetts. >> reporter: romney said he would repeople obama care but not all the parts people like. >> number one, preexisting conditions are covered under my plan. young people are able to stay on their family plan. >> the president: what your plan does is duplicate what already law. >> reporter: the
of contention. >> president kennedy cut tax rates, more revenue to the government, fact. president reagan cut tax rates, more money to the federal treasury. fact. that's the point you just heard. that's mitt romney's point. >> the problem, though, is independent tax analysts, including a tax center run by advisors to former president bush, has accepted those growth rates and said even with that, if you do the marginal tax cut that he wants, it's a $5 trillion tax cut. even if he gets a trillion of that under corporate tax revenue, that still leaves 4 trillion left. if you close every single loophole, every single one for high income earners, which he's not proposing doing, you would still have over a trillion dollars left even with the optimistic growth rates that have to fall in the middle class, the rate of about $2,000 per middle class family. this has been agreed on by all of the independent analysts. romney's plan has to do that or he has to abandon the plan. and this is what i mean by the fact he has a good night but he's going to have a hangover tomorrow, he's got to explain now is he
. mitt romney ran to the middle saying lowering the tax rates for wealthy americans would not lower the amount of taxes they pay. >> my view is we should provide tax relief to those in the middle class. but i am not going to reduce the share of taxes paid by high income people. >> romney said he would close tax loopholes and limit the de tucks -- deductions to the risk. >> it is knot possible to come up with enough deductions and loopholes that only affect high income individuals to either avoid raising the deficit or burdennenning the middle class. it is math. it is arithmetic. >> on health care -- >> first of all, i like the way we did it in massachusetts. >> romney said he would repeal obama care, but not all of the parts people like. >> preexisting conditions are covered under my plan. number two, young people are able to stay on their family plan. >> what your plan does is to duplicate what is already the law. >> the president's responses did not pin romney to what he said during the primaries and the republican nominee was able to reframe his positions. >> we are not going to
, romney wants to reduce tax rates by 20% across the board. but says he would keep a definite sit neutral by trimming some of the $1.2 trillion a year in tax deductions. president obama argues there aren't enough deductions that affect only the rich, so romney would have to hit the middle class. >> the only way to meet governor romney's pledge of not reducing the deficit or not adding to the deficit is by burdening middle class families, the average middle class family with children would pay $2,000 more. >> others have estimated the total value of the tax cuts would be some $5 trillion over ten years. governor romney says he will keep it deficit neutral and pledges there is one thing he won't do no matter what. >> i will not under any circumstances, raise taxes on middle income families. i will lower taxes on middle income families. now, you kite a study. there is six other studies that looked at the study you described and say it's completely wrong. >> the president based his assertion about a $2,000 tax increase on a study by the tax policy center which had exempted some tax deductions
. they are the heart of the program as romney explains it which is a trade for lower rates for big elimination of deductions. so that's the question. why didn't the president probe him aggressively on all the points of recent information? >> that seems to be the -- in terms of what we're discussing that's the point of distinction. whether or not mitts going to be in trouble for having gotten away with pay lot of stuff that's not true or whether it's the president's problem that then't didn't make him answer. >> the basic opening the president, i think, had tonight, he could have said, governor, you want private competition for people over 65 in medicare but you don't want any government competition for anybody under 65. i mean, there were some real simple things there that the president could have gone at and then come back and explained this plan. i think the president, tonight, his strongest pitch tonight was obama care. he didn't explain all of the good things that are taking place and talked about how he went around the country and this is what the people wanted and it was a consensus of a
. >> good. >> governor romney and i both agree the tax rate is too high. >> the president mentioned a couple of other ideas. first, education. i agree. education is key. >> i agree that the democratic legislators in massachusetts might have given advice to republicans in congress about how to cooperate. bring in the panel. former senator hank brown, also cochair for the romney campaign out here. senator brown, let me start with you on the civil tone. everybody is so nice. i assume that plays well no matter what side you're on. >> absolutely. colorado is socially moderate. fiscally very conservative. it plays very well in the state. >> were you surprised how civil it was? >> it was. >> it was nasty on the airwaves. >> we sat through a lot of republican debate where is it got very nasty very quickly on the stage. it seems like both camps were very careful to tell the candidate, okay, don't lecture. that was worked on both sides. don't be peevish. >> i don't understand the obama campaign was coming out and no, no, no. not overly so. >> they prepared for three days for this in the las vegas area
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